Fitch gives Great Horizon notes B+

Fitch Ratings said it assigned PT DSSP Power Sumsel's proposed $350 million notes due 2023 an expected rating of B+.

The outlook is stable.

The notes will be issued by Great Horizon Capital Pte. Ltd.

The proposed notes are guaranteed by Sumsel, which operates a 300-MW coal-fired power plant in Indonesia.

“The rating is constrained by the financial profile after the assumed refinancing of the notes in 2023 as well as weaker PPA termination provisions than peers',” the agency said in a news release.

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